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CapitaLand, Temasek ink S$11B deal; Itochu, Citic seek ¥100B for data center JV

* Singapore-listed property developer CapitaLand Ltd. is buying Ascendas Pte. Ltd. and Singbridge Pte. Ltd. from Temasek Holdings (Pte.) Ltd.'s Ascendas-Singbridge Pte. Ltd. subsidiary for a combined consideration of nearly S$6.04 billion.

The agreed S$11 billion transaction is expected to create Asia's largest diversified real estate group with assets under management surpassing S$116 billion.

* Chinese conglomerate Citic and Japanese trading house Itochu Corp. agreed to jointly establish an investment fund in Singapore for the development of data centers in China, the Nikkei Asian Review reported. The pair aim to initially raise ¥100 billion for the planned platform that will lease data center facilities to Chinese information technology companies.

* Institutional investors earmarked at least €72.4 billion of new capital for the real estate sector in 2019, London's Financial Times reported, citing a survey of 144 institutional investors and 10 fund-of-funds managers conducted by Inrev, Anrev and Prea.

Hong Kong and China

* Sun Hung Kai Properties Ltd. earned more than HK$288 million from the sale of two apartments at its Ultima project in the Ho Man Tin residential area of Kowloon, Hong Kong, The (Hong Kong) Standard reported.

In the same article, the publication also reported that Sino Land Co. Ltd. is planning to launch at least 108 flats at its Mayfair by The Sea 8 development in the Pak Shek Kok area of New Territories in the special administrative region within the week beginning Jan. 21.

* Greentown China Holdings Ltd.'s Xi'an International Land Port Development Co. Ltd. subsidiary awarded an approximately 416.5 million-yuan contract to CCCC-SHEC Fifth Engineering Co. Ltd. for the construction of an approximately 222,076-square-meter mixed-use complex in Xi'an, China.

* China South City Holdings Ltd.'s contracted sales in the three quarters ended Dec. 31, 2018, increased by 29.1% to nearly HK$10.81 billion, representing gross floor area of approximately 1,132,500 square meters.

* Future Land Development Holdings Ltd. is planning to offer US$300.0 million of 7.5% senior notes due Jan. 22, 2021, at a price equivalent to 100% of the notes' principal amount. The expected net proceeds from the planned issuance will be used by the Hong Kong-listed real estate company to repay certain existing debt.

* Chinese property developer Greenland Hong Kong Holdings Ltd. is looking to expand into the elderly care services sector in first-tier cities, including Beijing, Shanghai, Guangzhou and Shenzhen, as part of its diversification strategy, the South China Morning Post reported. The targeted market, according to the Chinese Academy of Social Sciences, is estimated to surpass 13 trillion yuan by 2030.

* Hong Kong Financial Secretary Paul Chan Mo-po said the government does not intend to relax any of the cooling measures in the property sector, such as special stamp duty, adding that the administration is "glad to see that the property market is correcting orderly," The Standard reported.

Southeast Asia

* Tropicana Corp. Bhd. is selling its W Hotel property in Kuala Lumpur with a guide price of 360 million ringgit, The (Malaysia) Star reported, citing unnamed sources.

* Filipino developer Cebu Landmasters Inc.'s reservation sales climbed 86% on an annual basis in 2018 to 8.54 billion pesos, exceeding its 7 billion-peso target for the year by 22%.


* New figures from CBRE Group Inc. showed that transaction activities in the Australian commercial real estate sector decreased 9% to A$32.8 billion in 2018, The Australian Financial Review reported. The annual decline was largely attributed to factors including a slowdown of investments from Chinese investors, who marked their lowest spending on commercial property in five years at just over A$1 billion in 2018.

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The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Rollen Catorce contributed to this report.